Cognizant revenue up by 28 per cent

Chennai, Nov 7: Cognizant Technology Solutions Corporation, a leading provider of IT and BPO services, today announced that its revenue in the second quarter of the current fiscal increased to US Dollar 558.8 million, up by 28 per cent from the year-ago quarter.

GAAP net income was USD 96.2 million or USD 0.32 per diluted share, compared to USD 61.0 million or USD 0.20 per diluted share, in the corresponding quarter of 2006, a company release here said.

Diluted earnings per share on a non-GAAP basis was USD 0.34. GAAP operating margin for the quarter was 18.1 per cent.

Excluding stock based compensation expense of USD 9.2 million, non-GAAP operating margin was 19.7 per cent, at the upper end of the Company's targeted 19 to 20 per cent range.

The results include a one-time tax benefit of USD 2.8 million and a pre-tax foreign exchange gain of USD 2.6 million, the release added.

UNI